Downtown Zeeland Restaurant w/ Upper Apartments

Retail-Commercial for Sale
Catylist Listing ID: 30593176
Property Subtypes: Restaurant, Tavern/Bar/Nightclub, General
Building Size (RSF): 4,894 SF
Gross Land Area: 0.11 Acres
Sale Price: $549,000
Unit Price: $112.18 PSF
Property Use Type: Net Leased Investment (NNN), Business
Building Name: The Elbow Room
Usable Size (USF): 4,894 SF
Sale Terms: Cash to Seller, Sale/Leaseback
Cap Rate: Undisclosed
Last Updated: 6/25/2020

Overview / Comments

Restaurant located in the heart of downtown Zeeland is available for purchase. Purchase includes building, furniture, fixtures, equipment, and liquor license. The building offers both front and rear parking and entrance points. The Elbow Room was relocated in 2014 to downtown Zeeland from Saugatuck. Owners are willing to stay on and train for up to 6 months. The 3446 square foot main floor was renovated in 2014. Additionally, there is approximately 1827 square feet of storage and equipment space in the basement. The 800 square foot second-story is a recently renovated 2 bedroom, 1 bathroom rooftop apartment, currently offered as a rental.

Financials

Finance Data Year 2012
Real Estate Taxes - Annual($) $5,786 (Annual)

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Ottawa
Taxing Authority: Zeeland City
Tax ID/APN: 70-17-19-102-031
Zoning: C-2
Retail Clientele: General, Family, Business
Property Located Between: South side of Main Street, between Elm and Church Streets.
Property Visibility: Good
Largest Nearby Street: Chicago Drive/Business 196
Highway Access: Chicago Drive/Business 196
Site Description: On file with listing office
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1900
Year Renovated: 2014
Construction/Siding: Brick
Exterior Description: Brick
Parking Type: Surface
Parking Description: Parking on Main Street and many more in the rear of the building.
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable
Zoning Description: C2
Lot Frontage: 29'
Lot Depth: 172'
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Legal Description: On File

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,157 32,570 61,287
Median Age: 34.86 35.16 34.39
Households: 2,220 11,916 21,824

Contact

Photograph of Listing Agent

Leslie Baker

RE/MAX Lakeshore
CARWM Member
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